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Previewing this week’s USDA reports

It’s one of the biggest weeks of the year for livestock reports from the USDA. University of Missouri’s Scott Brown says this final round of reports from the USDA for 2023 has both cattle and hog producers waiting in anticipation.

On the hog side, Brown says it’s about production.   “Productivity gains, that now have come back to be stronger again,” he says.  “Then, to get supplies under better control, we need what?  A bigger cut to breeding inventory.  I think that’s the tug and pull of those two numbers as to what unfolds in 2024.”

As for the cattle side? “We certainly get a shot at what the placements look like in November in Friday’s report,” he says.  “Which will be important.”

He tells Brownfield the reports, heading into the long holiday weekend, have the potential to be a big market mover. “For producers, think about price risk management before these reports,” he says.  “They could be good news. They could be tough news. But think about what you want to do in your operation.”

Livestock Slaughter numbers come out on Thursday, Quarterly Hogs and Pigs, Cattle on Feed, and Cold Storage numbers are out Friday.

All reports are 3pm Eastern/2pm Central.